The ABC’s They Didn’t Teach You at Muncie College of Business Administration*
*But might be teaching you now if this is a textbook for a class you’re currently taking at Muncie College of Business Administration.
I Is for Is
Politics aside, most professional business people agree that President Bill Clinton made a major contribution to business discourse when he said, “It depends on what the meaning of the word ‘is’ is.” Well, of course it does, but no one previous to Clinton had stated the obvious so obviously. In business, one of the easiest ways to pause a conversation so you can catch up is to say, “It depends on what your definition of (fill in the blank) is.” This tactic is especially helpful with accounting terms such as “Balance,” “Receivables,” “Payables,” and “Reconciliation.”
Think about it: Everything and everyone depends on something or someone but how those something’s and someone’s are defined is relative to circumstances and vocabulary.